Pig prices in China halved compared to summer 2020

The mass liquidation of the number of pigs brought down the market. However, exports will remain high as China is still struggling to contain ASF outbreaks.

In June, China's average pork price index fell 16.4% from the previous month to $3.1 per kilogram. According to official data provided by the Xinhua news agency, this is 54.1% less than the same period last year.

Since the beginning of the year, pork prices in China have fallen sharply due to a significant increase in supply and a decrease in demand, prompting the authorities to take a number of measures to stabilize the market.

In June, the National Development and Reform Commission twice warned of an excessive fall in hog prices, warning pig producers to adjust their plans to stabilize supplies. The agency also began buying pork to restock central and local levels as the index that tracks pork prices fell below dangerous levels. Since January, pork prices in China have fallen by almost 70%.

Despite the downturn in the Chinese pork market, international analysts expect imports to remain strong, with a pork shortage remaining at 5 million tonnes, according to estimates provided by the Brazilian Animal Protein Association (ABPA).

And this fact will be taken into account when preparing the monthly analytical report Meatinfo.ru